Texas Municipal Retirement System, Austin, committed a total of $594 million to seven existing alternative investment managers on Oct. 26, a transaction report dated Nov. 17 showed.
Investment officers of the $36.4 billion defined benefit plan committed a total of $344 million to five managers from the system's $2.5 billion private equity/venture capital portfolio.
Altimeter Capital Management was awarded a $100 million commitment for investment in Altimeter Growth Partners Fund VI, a growth equity fund.
Another $100 million was committed to Dragoneer Opportunities Fund VI, a growth equity fund managed by Dragoneer Investment Group.
Techstars Ventures 2022, a venture capital fund that will invest in start-up companies, was given a $75 million commitment.
Smaller commitments from the fund's private equity/venture capital portfolio went to the two remaining managers with $50 million to GTCR Strategic Growth Fund I/A&B, a U.S. buyout fund, and $19 million to TMRS Updata Co-Investment 1.
Texas Municipal spokeswoman Michelle Mellon-Werch did not immediately respond to an email request for the name of the existing manager running the co-investment fund.
From the fund's $4 billion portfolio that invests in other public and private markets, a total of $250 million was split between two managers with Pioneer Point Partners receiving a $150 million commitment to Pioneer Infrastructure Partners SCSp. The fund's portfolio managers will seek value-added infrastructure investments in the energy transition and environment sectors across Western Europe.
TMRS allocated a $100 million commitment to Activate Capital Partners II, a growth-equity fund focused on energy transition.